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the message of the fact that the government is going to be shut down, the debt ceiling issue is going to be a problem, we're not going to pay our bills and we're going to potentially have more damage to our credit rating? no. that's not my point. absurd that any republican or anybody united states absolutely right. off of the a, how we create the millions of jobs that this country desperately needs. by the way, thomas, when you create jobs and create taxpayers and people are contributing revenue, then your deficit is going to go down. deal is fair. the backs of people who hurting. doesn't pay a nickel in federal income taxes. that's wrong. >> independent senator bernie sanders from vermont. sir, as always, great to have you on. thank you for your time. >> thank you. >>> apology not accepted. the log cabin republicans taking out this full page ad "new york times" in the last month. also an ad in the "washington post." opposing a potential chuck hagel nomination as defense secretary. why they still say he's wrong on gay rights. >>> happening right now, a preliminary hearing for james ho
issues like the debt ceiling to get him to talk about it. i wish he would lead. >> after nancy pelosi appeared on national tv it was off to her annual happy new year's celebration in san francisco. she was greeted with a roar of applause at the presidio. the meeting answers the delance si street foundation. considered the country's leading residential self-help organization for the homeless, ex-cops. pelosi was instrumental in getting federal money for the program. >> wasn't bad outside. >> leigh: showers this morning and then as we forecasted last night, moved out quickly and actually saw lots of clearing this afternoon. even a nice sunset. but the sun is down now. as you look from the high definition east bay camera. you see san francisco in the background. rainfall the past 24 hours, most locations, less than a quarter inch, and you can see on live doppler 7hd that it is out of here. we are looking at this live, and you can see there are no returns picking up on our sweeps here. we'll say goodbye to the system. it slid south into southern california, brought them a little rain earl
, to the table when we have these other big issues like the debt ceiling to get him to talk about it. i wish he'd lead." >> reporter: i'm elizabeth corridan, reporting. >> president obama has signed a financial aid package for victims of superstorm sandy into law. the bill delegates more than 9-billion dollars to help the government pay flood insurance claims. a congressional vote on a larger. 50-billion dollar aid package is set for later this month. however. that bill is likely to face some tough scrutiny. as lawmakers look ahead to more battles over spending and debt. >> the president is also expected to nominate chuck hagel as the countries newest defense secretary tomorrow. the former republican senator from nebraska. and decorated vietnam war veteran. would to replace strong relationship during their time together in the senate. both men will likely face a lot of questions from congress. on where hagel stands on many key issues. >> when parking around san franciscoyou will now need to feed the meter seven days a week. today marks the first day of sunday parking enforcement in the city. kr
ceiling, its borrowing limit. today, senate minority leader mitch mcconnell insisted the tax issue is resolved but demanded spending cuts. >> i wish the president would lead us in this discussion rather than putting himself in a position of having to be dragged kicking and screaming to the table to discuss the single biggest issue confronting our future. >> reporter: also tonight, an administration official tells nbc news that the president is likely to name his selection for cia director tomorrow, the person who would replace david petraeus. the two men who are being considered as top candidates right now are the homeland security and counterterrorism adviser to the president, john brennan, and on the left of your screen you see the acting cia head, mike morrall. lester? >> thank you. >>> in addition to the battles over the debt ceiling and cabinet nominations, the president has a lot more on his plate in the coming weeks, including a fight over guns after the tragedy in newtown. and there's word tonight about what the obama administration is planning to do. we get our report from
cuts should be a different issue. >> if you raise the debt ceiling by a dollar, cut spending by a dollar. that is the way to go forward and we need a budget. our democratic friends haven't passed a budget in three years. >> the debt ceiling is about spending that has already occurred. you are going to say i'm not going to pay my bills unless you stop being stuff? well, then stop buying stuff so you don't have future bills but right now we have to pay the bills that have been incurred. >> shepard: the president said on saturday that he will not compromise over raising the debt ceiling. won't even put that on the table. shannon bream with the news live in washington this afternoon. how you is this strategy work out for republicans, shannon? >> shannon: the president says if they refuse everyone from business owners to average americans will suffer but republicans are calling his bluff saying the debt ceiling gives them leverage that will force democrats to get serious about spending cuts and entitlement reform. here is house republican jim jordan. >> let's do it for a change in
of the fiscal cliff. because the default, if nothing happens, is that the debt ceiling is not raised. what that means it doesn't mean, as some who would demagogue this issue suggest, i doesn't mean a default on our debt. whatnot raising the debt ceiling would mean is a partial government shutdown. roughly 40 cents of every dollar the federal government spends is borrowed. if you don't raise the debt ceiling, that 40 cents is temporarily stopped. now we did that in 1995. we didn't default on our debt. >> woodruff: right. the result was balanced budgets and some of the greatest fiscal responsibility was seen we've seen in modern times from congress because fiscal conservatives stood together and said we need to be responsible. >> woodruff: let me ask you about a couple of other issues. that is guns. you're a long-time proponent of gun rights. you're the father of two young girls ages 4 and 2. after those terrible shootings at that h elementary school in connecticut, have you changed your views at all on how available guns should be especially the high-capacity rifles? >> i think every parent
debt i probably wouldn't want to talk about the issue either. let's look at the facts. since the debt ceiling agreement passed 16 months ago the day after it passed we got a downgrade from s&p. a week after the market dropped 1300 points. the supercommittee which chris and so many members voted for fell apart like we all thought it would and the only scheduled cuts that were supposed to take place we just suspended them five days ago in the fiscal cliff deal. we have yet to cut one dime from the last debt ceiling agreement and now here it is time to do it again. we got to stop the madness. this is the 18-year-old kid on the credit card and they maxed out the credit card. instead of cutting it up and putting them on a budget barack obama says give us a new credit card and by the way, harry reid you don't have to pass a budget in three years. this is crazy. >> would you support this year letting the debt ceiling deadline last? >> what i won't support is not dealing with the problem. americans sent us here to deal with the problem. the way this town works this fiscal cliff deal the only
towards sequestering, the issue coming up, seven weeks from now, the debt ceiling debate creeping up, that's fairly soon. we -- the horizon is short now for investors. should they make moves now to prepare for this fight to have in washington? >> i think, yet again, it's another situation of political theater that will be played out in the media. i think the media's taking advantage of it by our politicians in washington, but the end result will be one that should allow long term investors to be buying when there's that kind of panic. it's a value play. they played out over and over again, some of the best investors in the world. we tell you that's the way to invest whether it's warren buffet or peter lynch back in the day, by what you know and buy when it gets cheaper. those are the opportunities that come along and when you should be taking advantage. cheryl: keep emotion out it. i'm just reporting the news here, been, come on now. to the cme, and, kevin, any levels you're watching now? any specific numbers to pay attention to? >> well, i think when you look at the treasury market and sp
year. fiscal cliff, the sandy aid, debt ceiling, a lot of issues we need him in the saddle, focused in the job, not focused as mayor of the city of newark. >> you always get these blowing, rave, wonderful articles. "the new york times," not nice at all, they say are you a better marketer than mayor. is it hurtful? >> probably one of the more frustrating articles of my career. they glossed over what we have done, since instituting court reform, prisoner entry reform, doubled the amount of affordable housing to dealing with veterans issues. a frustrating article. but as you said, sometimes you won't get flowing press. the press sometimes likes to build you up and take you down. >> what? what? >> my mom says i hope this is a lesson you should not read all of the good things about yourself. >> your mother would love my mother. chuck hagel? >> i think he has to focus, the president, on defending the nation. give him a lot of latitude. >> do you worry about the jewish lobby. he didn't say the israel lobby. the jewish lobby. talking about a diplomat being aggressively gay, iran and sanctio
the debt ceiling off the table. we have other power to use. let's get rid of that issue right now. that would be great for the economy because there would be some certainty that we're not going down this crazy -- >> i think if mcconnell had said that this morning, the markets would have gone up 200 points. >> newt gingrich and i probably disagree radically on what needs to be done, because i think we need more revenue than we got in this deal. but the other thing is we forget how much we have already done. there has been one deal after another after another that has cut spending very significantly. and that's why to say it's now only about spending and no more revenue on the table is just a big mistake. we have cut a lot. >> you would get broad widespread agreement if the revenue argument was, as simpson-bowles have suggested, a vast simplification of the tax code. this latest deal complicated the tax code. continued corporate welfare. simplify the tax code. close the hoop holes, lower the rates, you would get broad agreement. unfortunately, that has never been part of the deal. >
of the debt ceiling sight, this is going to be ugly. >> i think tax reform ought to be revenue neutral as it was during the reagan years. we've resolved this issue. we don't have that problem because we tax too little. we have it because we spend way, way too much. so we've settled the tax issue. the question is now can we address the single biggest threat to america's future? and that's our excessive spending. >> we're talking about looking at the tax code, putting everything on the table from the standpoint of closing loopholes and we know we can do that. >> we will talk more about the budget battle at 7:30 eastern time with former governor ed rendell. but, obviously, the two sides are far apart at this point. in our d.c. news today, president obama is expected to nominate former republican senator chuck hagel as defense secretary. republicans call him a controversial in your face pick. he criticized the iraq troops that opposed unilateral sanctions as iran and he once said that being gay impended effectiveness. there have been people on both sides of the aisle who have been mad abou
in this situation, talking about the debt ceiling and spending cuts. that was exactly the issue that caused the downgrading of the united states of america. that is at issue. the very same things that provoked that downgrade are on the table right now. and so it's hard for investors to forget the reaction to markets that we saw. it may not happen, but it does hearken back to that period. >> right. it's funny, there are a lot of questions still in terms of spending cuts. you have no idea how it spreads across the economy, whether you are a professor at a university expecting a $4 million grant from nasa for physics research. i have spoken to one of these people. and not sure whether you're going to get it. to, of course, the enormous expenditures to defense, that are still out there and question marks. granted, we do have a little more structure to the tax policy in this country for now, but we may be entering a debate of further tax reform dealing with deductions and the like and the spending cuts that many believe are also key to putting us on firm fiscal footing. >> right. >> earnings at
saying not just yet. >>> another economic threat the debt ceiling law americas have to figure out how to curve spending and bring in more residents. what's the solution? listen to this? nancy pelosi is saying another round of tax increases is an option. >> do you agree with the republican leading the senate mr. mcconnell who said we are done with the taxing side of it now we have to cons tate on spending? is that done now? the revenue side of it taken care of yet? >> no, it is not. the president had 6 million in revenue he took 1.2 in this revenue we had $620 billion significant high end tax rate to 39.6 percent but that is not enough on the revenue side. we have already agreed to a trillion dollars in spending cuts over a trillion dollars in spending cuts. are you talking about more taxes? >> talking about looking at the tax code putting everything from the table from the standpoint of closing loopholes and know we can do that. subsidies for big oil 38 billion right there. again not to take things in isolation just to say okay, how much more revenue can we get as we go forward? >> mi
are up about 2%. but don't look for that pace obviously to continue. and in terms of the debt ceiling, i actually in part agree with your guess. i don't think that's going to be the definitive issue. i think the tester is going to be the sequester. in my opinion. because that's where the spending cuts are, and i agree with today's op-ed. that's the only spending cuts in sight. >> do you think today's decline, brian, is partly just sort of let's take a breather? one trader i was talking to earlier said one of the issues today is there's just a lack of buyers. not heavy selling going on. just a lack of buyers. >> everyone's coming back to work, too, for the first full-time. first full monday of the year. that may be part of it. volume's low. maybe decisions are taken off the table in terms of short-term. but longer term people are much more positively disposed now than they were two months ago. funny thing, rising price stocks make people feel better. >> peter give me your best pick for 2013. >> how about madison square garden? just had some great news on the hockey break there. and in ter
of defaulting on its financial obligations. that sets up a fight over the debt ceiling. the main point of leverage congressional republicans to as their chance to bargain over fiscal issues as we whoevered dangerously close to the fiscal cliff. remember president obama says there will be no debate whether congress votes to raise our country's debt limit. >> one thing i will not compromise over, whether congress pays the bill for a tab they racked up. if congress refuses to give the united states the ability to pay its bills. it could be catastrophic. last time congress threatened this course of action our entire economy suffered for it. >> reporter: gop leaders in the house and senate, brace yourself, mr. president. you better believe there is going to be debate. congressman jim jordan says that is what the american people expect. >> let's do it for a change instead of saying give us more revenue. we promise we'll cut spending later. give us more borrowing authority, let us run up the credit card we promise to cut of the this is the old, lucy, charlie brown, the football, the american
-frank will be clarified by the regulators. i'm not as worried about the debt ceiling as everyone else because everyone else is worry good it. we got news, the big banks reached a settlement on the morning put-back issue with. fannie mae forking over $6.5 billion and selling back mortgages to fannie. and the problem gets put to bed. no more spending huge sums on legal bills, at least of the major ones i believe. no hear resign risks that makes investors to go to bed with this stock in their portfolio. and bank of america sold $200 billion in troublesome, i think, mortgage service rights to nationstar mortgage. the rights are confusing. suffice to say it was good for everybody. they sold these assets, and it's good for nsm and for bank of america. sure, all of the big banks and bank of america have run a lot lately. the stocks are still well off the all-time highs. and actually well off the highs of a couple of years ago. and i think as things get better in 2013, as people realize that so many of the worries that have held the banks down for so long are in the past, these stocks will continue to climb h
is over the debt ceiling but also sequestration, and those defense cuts and, look, defense is part of everybody's bread and butter to a certain degree, but really that hurts republicans. they want to play hardball on this, and it could be damaging to their base. >> it could be very damaging. not just to their base, but to the country. especially if it's done in the way that sequestration sort of forces it to be done. no question, as i said before, that the defense budget is really bloated and needs to be taken down, and there's a huge disconnect between what the united states needs to do in the world and the defense budget, which seems to lag two or three decades behind where it should be. so there's a big job to do there. the sequestration and, again, if the republicans force that to happen, just takes a meat clever to stuff you don't want to take a meat clever to. it's against their real interest. >> bloated like the lunch budget for this show. there's a difference between how many salami sandwiches we need and how many we actually eat. >> i feel like we've been purged from that
to raise the u.s. debt ceiling. it's expected to come sometime in february. democrats are planning to push for a balanced approach. but the senate minority leader mitch mcconnell is ruling out any further tax hike. >> the tax issue is finished, over, completed. that is behind us. now the question is what are we going to do about the biggest problem confronting our country? and our future? and that is our spending addiction. >> if mitch mcconnell is going to draw that line in the santd, it's a recipe for more gridlock. we have to take a long-term approach to u.s. deficit reduction. >> "new york times" which first reported the deal last week said 14 banks, including likes of citi, jpmorgan and bank of america are involved. nearly $4 billion will go to people who lost their homes in 2009 and '10. the rest will be for the foreclosure process. the times says the fed threatened to block the moves. philly fed president says a $3 billion balance sleet could codo harm to the u.s. economy. he plosser says that could lead to a rise in unemployment or more stability. he's long criticized the bond mort
from the end of the year including estimates when the debt ceiling would be reached and measures the treasury department has in the past and is now taking with rartsdz to that matter. but i would refer you for the questions you asked to the treasury department. >> you keep saying the president won't negotiate -- at the risk of sounding naive how does that work. if the members of congress don't have the strotes raise the sealening, does he say i'm not going to talk about that? >> the president believes members of congress were elected to serve their constituents and as one of their essential responsibilities to ensure that they do no narm congress to this economy and to the livelihoods of average americans, flirting with default or even worse, allowing default would be a violation of those primary these are bills that congress built. if congress but they should not be paying these bills are there should be less spending and borrowing, that is different legislation. it is not the president's response ability to pass legislation to raise the debt ceiling. it is congress. he will not
things on the president's agenda coming up include immigration gun control and the debt ceiling. the treasury is slated to lose borrowing power by the end of february unless congress agrees to raise the limit. spending cuts kick out on march 1st to every federal program. on the issue of gun control, the joe biden led tackle force has not reached any plans yesterday but according to "the washington post," the group is considering requiring universal background checks for all gun biers and harsh penalties for carrying guns near schools or giving them to miners. they would track the movement and sales of weapons through the national database. more bill press show coming up after the break. we are live in our chat room. join us there at see you there. going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the
Search Results 0 to 22 of about 23 (some duplicates have been removed)